Hulic Reit to Borrow ¥21.2bn to Fund a Property Swap With Its Own Sponsor
Hulic Reit plans to exchange three ageing Tokyo properties for a 24.99% stake in a newly built Osaka luxury tower and separately buy a Koto-ku office building, both from its sponsor Hulic Co., and has decided to borrow ¥21.2bn from Mizuho and MUFG Bank to help fund the deals.